Warehousing companies part of JNPT’s new plan:
In a likely breather to Container Freight Station (CFS) operators which otherwise ran the risk of losing massive amounts of business, the customs department at the Jawaharlal Nehru Port Trust (JNPT) has put out a tender calling for bids for CFSc to be part of the operations in the new Direct Port Delivery regime that the Narendra Modi government is trying to implement (read more)
Sagarmala to Get 199 Projects of Rs. 3.31 Lakh Crore for Ports, Coastal Communities, and Industrialization :
Shipping secretary Rajiv Kumar stated that government-approved Sagarmala is an ambitious plan for which the Ministry of Shipping has initiated many directives in the last two years. He said that they were looking ahead for developing multimodal hubs for Paradip, Vizag.
The Shipping Ministry wishes to launch 199 projects costing approximately of Rs. 3.31 lakh crore for the Sagarmala project. In 2016, Nitin Gadkari aimed to promote port-led development, which was to fetch Rs. 12 to 15 lakh crore of capital investments to bring about indirect and direct employment for about two crore people, and give a huge fillip to the nation’s economic growth (read more)
Organized logistics sector a $50 billion opportunity by 2025, says Alvarez & Marsal :
Organized logistics sector could be a $50 billion opportunity in India by 2025 helped by formation of the sector, consultancy firm Alvarez & Marsal said in an industry report.
“As the Indian logistics industry shifts from unorganized to organized, the need for supply chain performance improvement and the need for logistics companies that serve as supply chain partners will help advance investment opportunities, “the report stated (read more)
Carriers see Europe-Asia demand surge as box lines feel a capacity pinch:
A surge in airfreight demand on the Europe-Asia trade has seen IAG Cargo suggest that a capacity crunch in ocean shipping is forcing shippers and forwarders to switch transport modes. IAG Cargo said that it had seen a boom in demand on key routes from Europe into Asia over the first two months of the year.
It said cargo volumes on the eastbound leg were up by more than 23% year on year during the period, with fashion, spare parts, fresh fish and leather goods doing particularly well. IAG Cargo commercial director David Shepherd said: “This spike in demand comes at a time when constraints on seafreight capacity across Asia Pacific routes have been widely reported (read more)